Apparatus and method for automated transacting of annuities

摘要

A renewals instruction and transaction interface and method of collecting renewals instructions through an open access interface 2001 available to the public over a communications network 106 is provided. The application of known renewals rules and official fee and service charge cost data to a minimum data set 601 enables a renewals order to be transacted over a communications network 106 without the need to revert to any offline communications. The order can be automatically confirmed to both the service provider 104 and the user 100. The user 100 can further take advantage of the renewals instructions interface to input data to an intellectual property right database 503 held by the transaction server 102 which can be accessed through a restricted access 2002 portfolio management application 2008.